Indicium is a financially driven token-issuance DAC built using PeerAssets, hosted on the Peercoin blockchain. It will form algorithmically chosen indices and baskets of cryptocurrencies and issue assets corresponding to the value of these baskets. Peercoin dividends and voting rights will be given to Indicium (IND) holders as a representation of ownership in the DAC. A federated approach will be taken, where a group of founders or a board of directors will perform managerial duties to facilitate operation.

Series A Investment Details

Funds will be held in multisig reserve until all three founders (Fractals, Nagalim, and Mhps) come to consensus on how funds are to be spent. All of these funds are to be used for realization of the Indicium business proposal and at the discretion of the token holders.

Minimum Series A Funding Goal: $50,000Maximum Series A Funding Limit: $250,000

The Indicium price will be formed after the conclusion of series A funding based on the submitted bids. If the maximum funding limit is reached no further bids will be accepted (first come, first serve). All series A tokens will be awarded at the same concluding price.

If the minimum goal is not reached all funds submitted in bids will be returned to their sender or the address in the first input to the transaction in question if a sender cannot be identified.

To place a bid in Series A funding please message the @Indicium account on the Peercoin forum (https://talk.peercoin.net) with a cryptocurrency amount to be sent (minimum 0.4 BTC and/or 500 PPC), and a Peercoin address that you own to award the IND to. Currency conversion prices will be chosen at 23:59 UTC on Wed, 24.05.17 when Series A funding closes.

Please wait for confirmation for your bid from the @Indicium account via private message before sending anything to the following multisig addresses:

Whether you do a market cap weighting or minimal variance weighting, the index will need to get a lot of good, reliable data from somewhere. I couldn't find how this is done in the white paper. Is this with CMC? Entirely with CMC? If so, does CMC meet the critical requirement for being a reliable source? Is the data it pulls from exchanges reliable? Hasn't data at CMC been manipulated in the past? What if the CMC website is hacked or compromised in some way? Is it reasonable to assume that the alt-coin market is so thin and immature that prices/caps are largely manipulated by traders rather than reflecting the underlying fundamentals of a particular coin?

In the US, a company is an LLC or a C-corp (incorporated). One or the other, can't be both. There are significant differences in structure, owner rights, legal, taxation, etc. There are, of course, other ways to organize a company, but those two are the most common.

I would also think that if Indicium is doing an ICO -- which this appears to be -- that they'd want a minimal or non-existent public profile. Situation may be different in Europe. Being able to link an ICO with real people and a company address is probably asking for trouble in the US. I think it's inevitable that the SEC will start scrutinizing the ICO market, given the amount of money it has attracted in the past year.

References to incorporation in this document were in error and we are doing our best to get it corrected asap. There is a plan to legalize the business in Europe if both series A and minimum viable product goes well. Inquires have been made and contacts established but for now we refrain from further comments.

It may be better to think of this more as a fundraiser with a token offering than an ICO.

The number of articles circulating in the media on the special aspects of Bitcoins (BTC) has been growing for some time, some of these taking a more careful and sober look at the subject than others. In this article, BaFin would like to provide the...

There a several countries looking at the same EU regulations, arriving at totally opposite conclusions.That German interpretation of EU regulations is, to my mind, pretty much the worst you could end up with. Some European Bitcoin related start ups are aiming to meet the BaFin standards, partly because BaFin is one of the very few financial supervisory authorities that hands out licences to Bitcoin businesses at all.

Reading their interpretation, trading on an exchange which let's you set your own prices while you're participating "front line" on the market, like most exchanges allow you to, could require an authorisation. And that's just one point of many more.Not having an authorisation could result in serious fines or even jail time, so better safe than sorry. Getting one usually requires mid five figures of legal fees.

Why am I writing all this? I'm really intrigued by your project and I do want it to be a success!

Whether you do a market cap weighting or minimal variance weighting, the index will need to get a lot of good, reliable data from somewhere. I couldn't find how this is done in the white paper.

The examples shown in the business plan (not the White Paper) were results of simulations based on publically available CMC data.

sportscliche:

does CMC meet the critical requirement for being a reliable source?

The Minimal Variance Index is insensitive to short term volatility or random errors (with a zero mean over a period of several months). For example if we add 1% random noise to daily BTC prices to the simulation, the full-period NAV (Figure 1 in the Business plan) changes by only 0.5%. Note that in the same period the average daily price movement was more than 3%.

I am not aware of any significant long-term trend error in CMC data. At this point the basket and weights are determined with CMC data, which is a de facto industry standard. Plans have been discussed to implement in-house price feeds for Incidium. BTC prices on major exchanges are so highly correlated that if for example CMC is down the index is hardly affected using a price derived from Poloniex and Bitstamp.

sportscliche:

Is it reasonable to assume that the alt-coin market is so thin and immature that prices/caps are largely manipulated by traders rather than reflecting the underlying fundamentals of a particular coin?

For a few days even weeks and a particular coin, yes. For several months and many coins in a basket, no.

If i'm reading this right Series A gets me shares for somewhere between $1 and $5 depending on how much is raised, and each of those shares receives 1/100,000 of the company profits as dividends? Is that the basic offer?Business side questions:It says 'initial indicium distribution' under what conditions do my shares get diluted?Are there legal implications to running a crypto to crypto fund like this? Do we need to worry about the FEI servers being seized in San Francisco for money transmission violations? Are you going to be operating out of the Ukraine?What kind of fees is IND going to be charging people buying funds? A flat %? A variable amount based on current market liquidity? Any idea how high those fees will be?Are the records of what customers own what index tokens going to be communicated back to a blockchain, or is that all going to be stored on a website?Customer side questions:Can I ask for a payout, at any time; in full, or partially; in any single, or all of the currencies in the index fund I own?Do I know the composition of the fund at any given time, or is that kept secret?

yes, each Indicium will cost between $1 and $5 and counts for 1 vote out of 100,000 and receives dividends as such.

Your tokens can be diluted by IND vote and founder consensus. There are no current plans to dilute further, and specific details on events such as this and board member elections will be given in a future document.

We intend on doing nothing illegal. We will do our best to field legal implications. As we are not handling fiat currency, we avoid many of the more painful legal dilemmas.

Fees are unknown at this time. We are discussing a variety of possibilities. IND holders will likely have a say in this via the voting process.

Index tokens will also be PeerAssets, and will be recorded entirely on the Peercoin blockchain.

Once we have achieved minimum viable product, you should be able to receive Bitcoin for your index token and vice versa from Indicium directly. The exchange rate will track the index (with fees, so going back and forth quickly will profit Indicium greatly).

We are still talking about composition. Likely, we will do something like reveal the composition with a time lag so that we cannot be front-run.

Many details are being defined. On the technical side these are my (preliminary) thoughts

alexander:

Do we need to worry about the FEI servers being seized in ...

Infrastructure being compromised, for any reason, is always a serious concern. In my proposal eventually the Indicium operational infrastructure is distributed where the simple lightweight FEI has multiple server instances deployed in different places, or even runs serverlessly. Technical study will be done once Series A is complete successfully.

What about a time estimate on minimum viable product? I assume you already have working algorithms to compose some index funds, and you're mostly looking for money to build the FEI. Is everything ready from the peerasset side? Is there a marketing budget/strategy yet?

A business plan is given in the OP. A time estimation is given in the 'Milestones' section. PeerAssets is still being developed, but core parts of the protocol that we will be using have been specified. Indicium and PeerAsset will codevelop, as evidenced by the creators of PeerAssets present as advisors and receiving a portion of the initial distribution.